Stocks to buy or sell today: ITC, ACC among top 6 trading ideas for 1 September 2023
India VIX was up by 2.22% from 11.80 to 12.06 levels on Thursday. Volatility moved in its previous day’s range and comforted the bears.
Since it is the beginning of the new series, options data is scattered at various far strikes in the monthly series.
On the weekly options front, the maximum Call OI is placed at 19400 and then towards 19500 strikes.
Maximum Put OI is placed at 19200 and then towards 19000 strikes. Call writing is seen at 19400 then 19300 strikes while Put writing is seen at 19200 then 19100 strikes.
“Options data suggests a broader trading range in between 19000 to 19700 zones while an immediate trading range in between 19100 to 19500 zones,” Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited, said.
“Nifty formed a Bearish candle on the daily frame on Thursday and closed with losses of around 90 points,” he said.
“Now till it holds below 19333 zones the weakness could be seen towards 19150 and 19000 zones whereas hurdles are placed at 19388 and 19444 zones,” recommended Taparia.
We have collated a list of stocks from various experts for traders who have a short-term trading horizon:
Expert: Pritesh Mehta, Lead Technical Analyst at YES Securities told ETBureau
Expert: KunalBothra, Market Expert told ETNow
ACC: Buy| Target Rs 2180| Stop Loss Rs 1945
LIC Housing Finance: Buy| Target Rs 452| Stop Loss Rs 410
ITC: Sell| Target Rs 420| Stop Loss Rs 453
IDFC First Bank: Buy| Target Rs 108| Stop Loss Rs 88
Havells India: Buy| Target Rs 1440| Stop Loss Rs 1355
Voltas: Buy| Target Rs 920| Stop Loss Rs 835
(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own.
